Barclays Raises Weatherford International (NASDAQ:WFRD) Price Target to $160.00

Weatherford International (NASDAQ:WFRD) had its price target upped by Barclays from $135.00 to $160.00 in a research note published on Friday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts also recently commented on WFRD. Evercore ISI lifted their target price on Weatherford International from $130.00 to $151.00 and gave the company an outperform rating in a research report on Thursday. Bank of America upped their target price on shares of Weatherford International from $123.00 to $135.00 and gave the company a buy rating in a research report on Monday, April 15th. Benchmark reissued a buy rating and issued a $155.00 price target on shares of Weatherford International in a research note on Wednesday. Piper Sandler boosted their target price on Weatherford International from $180.00 to $184.00 and gave the company an overweight rating in a research report on Thursday. Finally, TheStreet upgraded Weatherford International from a c rating to a b rating in a research report on Monday, March 11th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Weatherford International presently has a consensus rating of Buy and an average price target of $136.89.

Weatherford International Stock Up 3.5 %

NASDAQ WFRD opened at $127.97 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 1.48. Weatherford International has a 52 week low of $55.81 and a 52 week high of $129.70. The business’s fifty day simple moving average is $113.86 and its 200-day simple moving average is $100.75. The firm has a market cap of $9.36 billion, a PE ratio of 20.71, a P/E/G ratio of 0.98 and a beta of 0.73.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.09. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.33 billion. Weatherford International had a net margin of 8.61% and a return on equity of 52.88%. Weatherford International’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.97 EPS. As a group, equities analysts anticipate that Weatherford International will post 6.73 earnings per share for the current year.

Insider Buying and Selling

In other Weatherford International news, Director Charles M. Sledge sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $123.47, for a total transaction of $1,234,700.00. Following the completion of the transaction, the director now owns 32,729 shares in the company, valued at approximately $4,041,049.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Girish Saligram sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $103.57, for a total transaction of $6,214,200.00. Following the sale, the chief executive officer now owns 146,895 shares of the company’s stock, valued at approximately $15,213,915.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles M. Sledge sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $123.47, for a total transaction of $1,234,700.00. Following the completion of the transaction, the director now owns 32,729 shares in the company, valued at $4,041,049.63. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 145,455 shares of company stock worth $14,863,464. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Weatherford International

Several institutional investors have recently modified their holdings of the stock. Huntington National Bank acquired a new stake in Weatherford International during the 3rd quarter worth $30,000. New York State Teachers Retirement System boosted its position in shares of Weatherford International by 14.9% in the 4th quarter. New York State Teachers Retirement System now owns 74,676 shares of the company’s stock valued at $7,306,000 after purchasing an additional 9,705 shares during the period. SG Americas Securities LLC grew its stake in Weatherford International by 287.1% during the 4th quarter. SG Americas Securities LLC now owns 24,715 shares of the company’s stock worth $2,418,000 after buying an additional 18,330 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in Weatherford International in the fourth quarter valued at approximately $1,986,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Weatherford International by 1,564.7% in the third quarter. Principal Financial Group Inc. now owns 281,174 shares of the company’s stock valued at $25,398,000 after acquiring an additional 264,284 shares during the period. Hedge funds and other institutional investors own 97.23% of the company’s stock.

Weatherford International Company Profile

Weatherford International plc, an energy services company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide. The company operates through three segments: Drilling and Evaluation; Well Construction and Completions; and Production and Intervention.